National Storage REIT Acquires Stake in Abacus Storage King

National Storage REIT ( (AU:NSR) ) has provided an update.

National Storage REIT (NSR) has acquired a 4.78% stake in Abacus Storage King (ASK), following a proposal by a consortium to acquire all outstanding securities in ASK. NSR views ASK as a valuable investment, noting that the consortium’s offer undervalues ASK’s assets and brand. NSR does not plan to make a competing offer and will continue to fulfill its disclosure obligations.

More about National Storage REIT

National Storage is the largest self-storage provider in Australia and New Zealand, operating over 260 centers that offer tailored storage solutions to more than 97,000 residential and commercial customers. It is the first independent, internally managed, and fully integrated owner and operator of self-storage centers listed on the Australian Securities Exchange (ASX).

YTD Price Performance: -4.70%

Average Trading Volume: 5,901,156

Technical Sentiment Signal: Sell

Current Market Cap: A$3.1B

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